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Ethereum Name Service Tops NFT Market, Hits $4.27M in Sales

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😀 Ethereum Name Service Dominates NFT Market 😄

The Ethereum Name Service (ENS) took center stage in the NFT market with revenues exceeding $4.27 million. Although not an NFT collection per se, ENS uses NFT technology in its decentralized URL method on the Ethereum blockchain. This method allows users to convert Ethereum addresses into readable formats. Essentially, an ENS domain registration grants a distinct NFT linked to the chosen domain name, which can be transferred or sold like any other NFT.

Diverse Range of Top Sellers

Following ENS, the $PIZZA BRC-20 NFTs, hosted on the Bitcoin blockchain, secured the second position with $2.18 million in sales. Despite topping the charts on Sunday with $7.12 million, this collection's sales fell. The Guild of Guardians Avatars on the Immutable network took third place with $1.24 million in sales.

The Blast’s Fantasy Top collection came in fourth with sales of $987,910, while the Genesis Fanta Field collection on Solana debuted in the top 10 with $635,539 in sales. The DMarket collection, part of the Mythos network, made an impact with $583,411 in sales, coming in sixth.

The Bored Ape Yacht Club, a flagship NFT from Yuga Labs and the second-highest seller ever, finished the day in eighth place with $470,907 in sales. The OKX NFT Creation series on Polygon took eighth place with $414,817 in sales. Two more Polygon collections, Matr1x Fire Weapon and TTAvatars, rounded out the top 10 with sales of about $350,000 each.

Blockchain Breakdown

Ethereum, led by ENS, commanded the highest daily sales at $8.45 million, a significant increase from $4.51 million the day before. The Bitcoin blockchain saw daily sales of $4.11 million, down from $11.03 million reported on June 9. Solana blockchain sales were $2.68 million, while transactions on the Polygon blockchain totaled $2.44 million, reflecting greater volume. Immutable recorded $1.56 million in sales, and the Blast blockchain saw $988,646 in sales.      

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